LSL manage developments whose primary requirement is the management of the outside space in the form of grounds or other communal facilities attached to a housing development, often referred to as Public Open Space Schemes.
Increasingly developers have a requirement to establish a means of securing the long term management of these communal facilities. This can include a range of facilities such as estate roads and parking areas, lighting, communal garden, boundary walls, hedges and fences, communal litter bins and bin stores, waste treatment units and drainage systems.
Often these facilities would be transferred from the developer to the control of local authorities after the completion of the development. Changing priorities and financial constraints has meant that this option is not always available. Many developers now prefer the certainty of securing the long term management of such facilities though transfer of control to a management company.
Developers understand the value in appointing a Managing Agent as part of the development process. It enables issues relevant to the long term management of communal facilities to be identified at an early stage, gives an indication of the likely ongoing costs and service charges and ensures that a clearly defined operational structure is in place for the benefit of the owners once the development is complete and the facilities are transferred to the management company.
LSL have experience of taking control of previously self-managed developments. The management of these developments is often reliant on the goodwill of a small enthusiastic group of owners who willingly give their time to ensure the routine administration, repairs and maintenance issues are dealt with. The time and commitment required for the necessary administration and management tasks is often under estimated and this may become a burden on the few owners that are prepared to undertake the role.
We believe that many of these developments will often benefit from an injection of management expertise and experience and that the benefits of professional management and access to contractors will very often exceed the costs.
If you are a developer or owner on an estate with a management company we will be very happy to discuss your requirements.
When looking to appoint a new Managing Agent we were looking for a partner prepared to work with us to "increase stakeholder value" in the development and deal with the immediate urgent matters left unattended by the previous partner. The matters included a dry rot problem, constant budget increases despite service criticisms and no general reserves/contingency fund. Within months it was obvious we had made a good selection as LSL reviewed all the issues, proposed an action plan to the directors involving changing many service providers, dealing with the dry rot problem, improving quality of general upkeep, cleaning and presentation within a financial plan to minimise budget rises yet build a general reserve/contingency fund. In short, I believe we are managing our business better, maintaining the common areas and structure of the building, providing a better standard of service and providing for future contingencies."
Colin Birrell, Director of Willow Holme Lofts (Management) Limited